Global Trade Management Market By Component (Solution and Services), By Deployment Mode (On-premises and Cloud-based), By Organization Size, By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global trade management market was valued at USD 927 million and is expected to reach USD 1,576 million in 2032. This market is estimated to register the highest CAGR of 5.4% between 2023 and 2032.

Trade Management is a process of trade promotions of companies’ plan, execution, and administer payment. If there is no trade management system, the landed costs must be inputted manually. It enables the organization to manage import/export, trade compliance, free trade zone, custom filings, cross-border trade, and restricted party screening. The increasing demand for automation in trade management operations created new opportunities for market growth.

Increased international trade and the need for efficient supply chain management are the primary drivers behind the growing demand for Trade Management Software. The software facilitates improved logistics, enhances supply chain visibility, and reduces operational costs. The major obstacles hindering the widespread adoption of Trade Management Software include reliance on traditional methods, limited resources for technology implementation, and a lack of hands-on experience among industry professionals.

Note: Actual Numbers Might Vary In The Final Report

Key Takeaways

• Growth Projection: The global trade management market was valued at USD 927 million in 2022. It is expected to reach USD 1,576 million by 2032, with a projected CAGR of 5.4% between 2023 and 2032.
• Driving Factors: Increasing international trade volume and the need for efficient global logistics.
  Technological advancements such as AI, automation, and blockchain improving trade management operations.
• Restraining Factors: Limited resources for technology implementation and lack of hands-on experience among industry professionals and Low bandwidth and innovation budgets affecting market growth.
• By Component: Segmented into Solutions and Services, with Services being the most lucrative.
• By Deployment Mode: Divided into On-premises and Cloud-based, with Cloud-based as the most lucrative segment.
• By Organization Size: Split into SMEs and Large Enterprises, with Large Enterprises dominating the market.
• By End-User: Segmented into Retail, Healthcare, Energy & Power, Manufacturing, Transportation, and Other End-Users, with Retail being the most lucrative segment.
• Regional Analysis: North America currently holds the largest market share, while the Asia-Pacific region is anticipated to experience significant growth.
• Key Market Players: Key players in the trade management market include IBM, Oracle, Amber Road, Inc., Aptean, NEXUS Intertrade, and others.

Driving Factors

The volume of international trade is increasing day by day. The need for improvement of global logistics is increasing sideways with the volume of international trade.  As factors such as growing consumer demand rise of e-commerce, globalization has led to a greater need for effective trade management, which helps companies to navigate complex global supply chains. The enhancement in technology has empowered the development of more refined trade management solutions, including artificial intelligence, automation, and blockchain.

Organizations are becoming more aware of risks linked with global trade, including natural disasters, political unsteadiness, and cyber threats. Trade management helps these organizations to identify and lessen these risks.

Restraining Factors

Companies have relied heavily on the already existing systems. Organizations manage their trade operations by already-existing management systems and manual methods. This causes obstacles to global adoption. The low bandwidth and budgets of innovativeness decline the market. The stock chain executives lack access to technology which is expected to restrain market growth.

By Component Analysis

Based on components, the market for trade management is segmented into Solutions & Services. Among these types, the Services segment is the most lucrative in the global trade management market. The services segment plays a vital role in trade management, ensuring the accurate integration of trade management solutions. It facilitates the error-free functioning of solutions by checking, upholding, and advancing the critical aspects of trade management solutions.

By Deployment Mode Analysis

By deployment mode, the market is further divided into on-premises and cloud-based. The cloud segment is estimated to be the most lucrative segment in the global trade management market. The cloud deployment mode has a dynamic approach that is implemented to the organization’s needs. The key benefit of cloud deployment mode is that it can expand present solutions with cutting-edge technology without sustaining extra software and hardware costs.

Note: Actual Numbers Might Vary In The Final Report

By Organization Size Analysis

Based on organization size, the market is further divided into SMEs and Large Enterprises. Among this organization’s size, the Large Enterprises segment is estimated to be the most lucrative segment in the global trade management market. The Large Enterprise segment will dominate the market share in the forecasted years. Large Enterprises convoluted in international trade must conform to global trade guidelines. Also, it has operational solutions, which increases demand for trade management.

By End-User Analysis

The market is segmented into Retail, Healthcare, Energy & Power, Manufacturing, Transportation, and Other End-Users based on end-user. Among these end-users, the Retail segment is estimated to be the most lucrative segment in the global trade management market. The retail segment is growing as a consequence of the rising demand for operative administration of import and export procedures.

Key Market Segments

Based on Component

• Solution
• Services

Based on the Deployment Mode

• On-premises
• Cloud-based

Based on Organization Size

• SMEs
• Large Enterprises

Based on End-User

• Retail
• Healthcare
• Energy & Power
• Manufacturing
• Transportation
• Other End-Users

Growth Opportunity

Trade management can help companies reduce their stock chain investment by automating the trade compliance process and managing import/ export duties. This cost-saving is considered to be an opportunity for companies. By reducing the paperwork and manual process, the trade management market can help the organization save time and increase efficiency.

Improvement in the supply chain is another opportunity by which organizations can easily expand into new markets and increase their revenue and global presence.

Latest Trends

Increasing complications of global trade principles and the increase of trade tensions among countries have led to compliance as a critical concern for organizations engaged in foreign trade. The GTM solutions can help ensure compliance with the protocols, and trade agreements are in high demand. Many companies are moving their operations to the cloud. Therefore, the demand for cloud-based global trade management solutions is also growing. It offers solutions such as scalability and flexibility, lowers upfront costs, and also makes them an attractive option for companies of all scales.

Regional Analysis

North America is estimated to be the most lucrative market in the global trade management market, with the largest market share of revenue of USD 298 million. However, the Asia-Pacific trade management industry is anticipated to rise significantly CARG during the anticipated timeframe. R&D facility improvements and the rate of technological uptake are greater in North America.

Also, The North American Free Trade Agreement has lowered the trade obstacles and barriers, which has accelerated foreign trade in North America. As such, the market for trade management is anticipated to grow. Furthermore, increasing implementation of cloud-based technologies across APAC will increase the market in the forecast period.

Note: Actual Numbers Might Vary In The Final Report

Key Regions and Countries:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several trade management market companies are concentrating on expanding their existing operations and R&D facilities. Furthermore, businesses in the trade management market are developing new technologies and portfolio expansion strategies through investments and mergers, and acquisitions. In addition, several key players are now focusing on cloud-based technology to expand the market.

Market Key Players:

• IBM
• Oracle
• Amber Road, Inc.
• Aptean
• NEXUS Intertrade
• Star USA Inc.
• Infosys Ltd.
• Precision Software
• Livingston International
• MiQ Digital Ltd.
• QuestaWeb Inc.
• OCR Services Inc.
• Other Key Players

Recent Developments

• October 2022: Oracle collaborated with healthcare organizations to build patient-balanced stock chains. The unpredictable supply makes it difficult for healthcare organizations to expect supply scarcity, replace orders fastly, sustain accurate billing, and manage to price.
• October 2022: With Insight Partners, Aptean confirmed an agreement to quicken innovation and expansion in the globe of their solutions.

Report Scope